Land panel report puts a bullet through the New Dawn's brain – IRR

Apples account for 5.45% of the value of all exports from the Western Cape. (pixabay.com, 2019)

The Presidential Advisory Panel on Land Reform’s recommendations “risks triggering devastating consequences” for the economy, the Institute of Race Relations (IRR) warned on Monday.

The recommendations include:

  • Government should proceed to amend the Constitution to explicitly allow for expropriation without compensation.

  • Restriction of foreign property ownership.

  • Capping of farm sizes (and compelling farmers to surrender surplus land)

  • The introduction of land taxes.

The proposals were, according to the IRR CEO Frans Cronje, “economically suicidal” and “a 130-page formula to destroy the economy”.

…The report will do nothing to secure investor sentiment and I am afraid it has put a bullet through the New Dawn’s brain…

Frans Cronje, CEO - Institute of Race Relations

Cronje says doctors and pensioners would lose their assets to the principles behind Expropriation Without Compensation.

...the fallout will have implications for the whole economy as the principles inherent in EWC spread to sectors as diverse as healthcare and financial services… The National Health Insurance proposal is essentially a step towards seizing the businesses of private doctors. Moves towards prescribed assets herald the same for pension fund beneficiaries…

Frans Cronje, CEO - Institute of Race Relations

The Money Show’s Bruce Whitfield interviewed Terence Corrigan, Project Manager at the IRR.

Listen to the interview in the audio below (and scroll down for quotes from it).

There is very little… that is conducive to economic recovery…

Terence Corrigan, Project Manager - IRR

Expropriation Without Compensation does absolutely nothing for the real problems of land reform…

Terence Corrigan, Project Manager - IRR

For many in Government its all over bar the shouting…

Terence Corrigan, Project Manager - IRR

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